During an interview with CNBC-TV18 at the Future Female Forward event, Shaw noted that women founders still grapple with credibility issues among investors, banks, and venture capital firms, making it more difficult for them to obtain funding compared to their male counterparts.
“Regrettably, that credibility challenge persists,” she stated. “I consistently mentor young women starting businesses to navigate the difficulties of raising capital.”
Shaw pointed out that the funding landscape remains disproportionately biased against women entrepreneurs.
“For some reason, banks, financial institutions, and venture funds appear hesitant to invest in women,” she remarked. “Men have a comparatively easier path.”
She linked the issue to the lack of diversity in the investment community, characterizing venture capital as an “old boys’ club” where men predominantly make investment decisions.
“There are very few women investing through venture funds in women-led businesses,” she said, noting that even women-led investment firms often lack gender-balanced investment teams.
Despite these challenges, she expressed optimism about the increasing number of women founders and startup leaders, especially in Bengaluru, where she observes more women launching innovative companies.
“I encounter numerous intelligent women as co-founders and team members. They are all pursuing thrilling new ideas.”
Shaw stated that businesses also bear responsibility for creating more opportunities for women. At Biocon, women constitute half of the research workforce, a milestone she believes reflects merit rather than affirmative action.
“One aspect of Biocon that fills me with pride is that 50% of our research staff are women,” she expressed.
“This isn’t about affirmative action. These are accomplished women. Their success is based on merit.”
However, she acknowledged that achieving gender parity remains a challenge in manufacturing operations and floor roles. Although various states have relaxed regulations to enable women to work night shifts, she highlighted that operational concerns, such as ensuring employee safety, still present practical obstacles.
Shaw also shared her own entrepreneurial experience, stating she faced continuous rejection while developing Biocon into a leading global biopharmaceutical company.
“Many, many times,” she replied when asked how frequently she faced rejection.
“Numerous individuals have closed doors on me. Many have said no. However, I remain persistent because I know that eventually, someone will say yes.”
She encouraged aspiring entrepreneurs to stay resilient, urging women not to allow rejection or stereotypes to deter them from ambitious pursuits.
“Don’t give up. Someone, somewhere, will say yes.”
Shaw dismissed the notion that women are less ambitious or risk-averse than men.
“I’ve always believed women should aspire. They should be ambitious,” she stated.
“I don’t think that’s accurate. These are myths that we need to dispel because every woman has the potential to take risks.”
For the full interview, watch the accompanying video
